Telecom shares under pressure; Bharti Airtel, Vodafone Idea slip over 6%

Reliance Jio announced a range of postpaid plans, including many firsts such as in-flight mobile connectivity

Shares of telecom service providers, mainly Bharti Airtel and Vodafone Idea (VIL), dipped than 6 per cent on the BSE on Wednesday after rival Reliance Jio (RJio) announced a range of postpaid plans, including many firsts, such as in-flight mobile connectivity.

Bharti Airtel declined 7 per cent to Rs 437, while Vodafone Idea slipped 8 per cent to Rs 9.47. In comparison, the S&P BSE Sensex was up 0.5 per cent at 37,926 points, at 11:45 am. Airtel's stock hit an over seven-month low today, tanking 28 per cent from its record high level of Rs 612, touched on